PGNiG buys stakes in Total’s Norway licenses

12/06/2019 09:16 Energy


Polish state-controlled oil and gas company PGNiG announced the acquisition of stakes in two licenses owned by French supermajor Total, Kallanish Energy learns.

The company will take a 22.2% interest in the PL146 and PL333 blocks, on the Norwegian Continental Shelf (Ncs), where the King Lear Basin is located.


It's expected to hold 98.6 million barrels of oil-equivalent (Mmboe) of gas and condensate. According to the agreement, PGNiG will be able to extract 1.5 Mmboe annually.


Norwegian company Aker BP is project operator with a 77.8% interest acquired last October from Norwegian player Equinor for $250 million. Production is scheduled for 2025.


Daily (30.03.2019): NBP spot tumbled by 21% on a weekly basis, as weak demand outweighed stimulus hopes

30/03/2020 11:39:00

Crude oil prices extended losses on Friday, posting the fifth consecutive weekly decline, as governments’ financial stimulus to eliminate the coronavirus pandemic could not stop the decline in global demand. Brent crude dropped by 5.4% to $24.93 a barrel. WTI futures traded 4.8% down at $21.51 a barrel.


Hungary allocates 131.4 MW of PV in renewables auction

30/03/2020 10:46:00

The Hungarian Energy and Public Utility Regulatory Authority (HEPURA) has published a list of 72 clean energy projects that it selected in the country’s first technology-neutral renewable energy auction in late October.


EU power prices could drop 40% on recession – Thema

30/03/2020 10:41:00

Continental European power prices could fall by up to 40% to EUR 20-25/MWh on average next year should efforts to curb the coronavirus cause a global recession, said Oslo-based consultancy Thema.